Risk Management for Legal Professionals

Lawyers are risk averse by nature, so risk management and the law go hand-in-hand. Managing, or mitigating risk is something attorneys routinely engage in as part of their client work, but it has not always been considered germane to law firm business operations. 

Law firms face a growing volume of complex litigation requiring an astute understanding of rules, procedures and technologies. They must deal with more stringent business continuity and disaster recovery requirements, and risks of the “trade” such as malpractice claims and client confidentiality. Faced with such challenges, modern law firms are taking the lead in developing proactive and far reaching risk management strategies.

Thankfully, it does not take a rocket scientist (or a law degree for that matter) to lay the groundwork for sound risk management. Nor does it mean hiring highly compensated management consultants. It simply requires starting with the basics of law firm calendaring and docketing. Read More